<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

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"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

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That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

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Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

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Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

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S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

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The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

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With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

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Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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Australian Property Monitors (APM) has released a list of results from 229 auctions in Melbourne for the weekend of February 25. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" style="font-size: 14px; text-align: left;">Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
 
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APM's 229 Melbourne auction results 

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Diversified property group FKP has reported a 41% drop in sales revenue in its residential development business for the six months to December 2011, with land sales down 20% and apartment sales down 88% compared with the previous corresponding period.
Underlying profit in its residential development division fell 28% to $10.7 million.
FKP’s residential development division includes a number of high-profile projects, notably the Luxe apartment project in Woolloomooloo overlooking the Domain parklands and the residential communities of Saltwater Coast at Point Cook on the outskirts of Melbourne, Rochedale Estates in Brisbane and Peregian Springs on the Sunshine Coast.
The Luxe development, now under construction, is 62% sold with 29 out of the 77 apartment available for sale. One-bedroom apartments in the project are being sold off the plan for $648,000, two-bedroom units for $940,000 and three-bedroom units selling for about $1.3 million. The development launched late last year.
In October the first limited-edition apartment featuring 270 degree views of St Mary’s cathedral, the Sydney CBD skyline and Domain parkland was sold to a local buyer for $3 million having been marketed by Whiterock Capital Partners. 
The developer says results at Saltwater Coast had been impacted by softer market conditions and inclement weather with the lead time between enquiry and settlement increasing over the period.
“In a weak Victorian residential market, sales at Saltwater Coast in Melbourne have slowed from the exceptional levels that were achieved in 2010-11,” says FKP.
There are 1,500 lots remaining for sale at Saltwater, with FKP targeting annual lot sales of between 250 and 300 over the next five years.
“In Queensland, delays in achieving required council approvals directly impacted the number of settlements at The Rochedale Estates,” says FKP.
“However, these approvals have now been attained and increased settlements are expected in the second half of the year.
FKP says sales volumes at Peregian Springs have held up “in a difficult Sunshine Coast market”.
FKP has 4,850 lots across its portfolio currently for sale with an estimated value of  $1.7 billion.
The group plans to build 1,800 apartments over the next six years.
It reported a $43.1 million underlying profit after tax for the half-year, down 21% on the previous period because of a slowdown in residential sales coupled with longer lead times between deposit and settlement of sales for units in the retirement portfolio.
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Luxe in the ’Loo selling well for FKP,  but Victoria and Queensland drag the chain

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The North Epping home where five members of the Lin family were murdered has been listed for March 22 auction.
North Nor'West Property, the estate agency that sold the property to the Lin family in October 2001 for $575,000, has been appointed as the listing agents by the New South Wales Trustee and Guardian, which manages the estate.
Mark Ward, <a target="_blank" href="https://www.northnorwest.com.au/index.cfm?pagecall=property&amp;propertyID=1968226">the agent handling the Boundary Road sale</a>, says prices for comparable properties are in the $900,000 to $950,000 range.
But there is expected to be a discount secured by its buyer.
The property falls well into the requirement of NSW law requiring disclosure of "some material facts" about properties that would not be obvious to potential buyers.
It covers "potential psychological stigma attached to a property, which is likely to be shared by a significant proportion of the population".
Buyers’ agent Tim Mansfield says selling agents <a href="https://www.propertyobserver.com.au/residential/murder-and-mayhem-what-an-agent-should-disclose-if-a-property-has-an-unsavoury-past/2012021953438" target="_blank">have a duty to tell buyers if a property has an unsavoury past</a>.
 
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jchancellor-FAypfDUnLy

North Epping home where Lin family was murdered listed for March auction

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20/21 Sutherland Street, Cremorne, NSW, 2090
<img src="/images/stories/sutherland.jpg" style="border-style: initial; border-color: initial;"> 
In The Links building in Cremorne, this two-bedroom unit is currently leased until November 2012 at $500 per week. Listing agent Fran Turner of Croll Real Estate says the tenants have been in place for 12 years and are playing significantly below market rent. She says a rental analysis of the property indicates it could be rented out for between $650 and $680 per week. It features views over Willoughby Bay and the surrounding district, laundry and 103 square metres of living space. 
Turner<a href="https://www.croll.com.au/dbpage.php?pg=view&amp;dbase=listings&amp;id=787115" target="_blank"> is marketing the property</a> with price hopes of $730,000 plus.  If it sells for $730,000, its current rent would secure an investor a gross rental yield of 3.6%, below the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. A rental of $680 per week would equate to a gross rental yield of 4.8%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Levies are $1,340 per quarter, council rates are $187 per quarter and water rates are $142 per quarter.
The median unit price for Cremorne rose by 5.6% in the past year, according to RP Data.
The property will be open for inspection on Saturday, February 25 at 11.30am and will go to auction on Saturday, March 10 at 12.15pm.
For more about prices and yields in Cremorne, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
<hr class="system-pagebreak">
 4 Fitzroy Court, Endeavour Hills, VIC, 3802
<img src="/images/stories/endeavourhills.jpg" style="border-style: initial; border-color: initial;">
This three-bedroom house is currently tenanted at $270 per week, and the lease has expired. Ray White agent Daniel Pepperell says a new lease could be signed for the house at between $300 and $320 per week. All three bedrooms include built-in wardrobes, and it is close to Chalcot Lodge Primary School, the M1 Freeway and Endeavour Hills Shopping Centre.
Pepperell <a target="_blank" href="https://www.raywhite.com/vic/endeavour-hills/743210/">is marketing the property</a><a href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=VIC619037&amp;listing=residential&amp;buyrent=buy&amp;sbrb=BrightonEast&amp;State=ViC&amp;pcde=3187" target="_blank"> </a>with price hopes "in the low to mid $300,000s". If it sells for $320,000, its current rental would secure an investor a gross rental yield of 4.4%, above the indicative gross rental yield for Endeavour Hills houses of 4.2%, according to RP Data. If it were rented at $320 per week, that would equate to a gross rental yield of 5.2%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median price for Endeavour Hills increased 3.8% in the past year, according to RP Data.
The property is open for inspection on Saturday, February 25 at noon and will go to auction on Saturday, March 17 at 1.30pm.
For more information about yields and prices in Endeavour Hills, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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Friday Form Guide: Yields of up to 4.8% in Cremorne

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A major apartment complex development in Queensland has fallen into receivership, the latest victim of the state’s lacklustre property sales.
Price growth in Queensland remains depressed, with first home buyers still cautious after major banks signalled they are prepared to raise rates outside decisions made by the Reserve Bank.
According to official documents, the company behind the $170 million Alderley Square apartment development, Alderley Village, was placed in receivership in November.
Receivers Korda Mentha were contacted this morning, but no reply was available prior to publication. The Alderley Village development office was also contacted, but the line appears to be disconnected.
Construction of the development was expected to begin this year, but the development has now collapsed with $12 million in debt, according to the Australian Financial Review.
The project was reportedly backed by private South Africa-based investors. The developer behind the property is PCN Projects, which has offices in both Australia and South Africa.
That company was also contacted this morning, but no reply was available prior to publication.
The development is the latest within Queensland to fail, with a number of properties and resorts going under during the past few years. Apartment supply has exploded in the last decade, especially on the Gold Coast, which has put more downward pressure on prices.
The Alderley project would have offered over 200 new residential apartments. Reports indicate $55 million worth of apartments were sold during the first 12 months of sales, but transactions slowed soon after.
The collapse comes as home loan arrears in Queensland have also risen above those in other states.
SQM Research managing director Louis Christopher says there has been a definite slowdown in Queensland, with stock continuing to rise causing more price pressures.
“We went through 2011 when there was a period in which house prices fell in Brisbane, and the ABS says there was a 9% fall from peak to trough across 2010-11.”
“That’s a substantial correction. It’s caused enough stress for property developers who have done work based on contracted prices and for those who have to offer a buffer on those prices as well.”
Christopher says developers have had trouble gaining finance, even during the past year or so, and that he’s heard reports of banks breathing down developers’ necks – even when all the finances check out.
“There is quite a lot of stress for new property developers, particularly those working on a thin buffer of prices. When developers start making even a small loss, it can destroy them very quickly.”
This article originally appeared on<a href="https://www.smartcompany.com.au/?piffwe" target="_blank"> SmartCompany</a>.
 
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Queensland $170 million apartment project in receivership, state’s property market still under pressure

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Ever walked down the street and thought, ”Yes, I really like that house” or “Yikes! That house does nothing for me!”?
At the very first glance of a property we instantly form an impression.   It is human nature to judge a book by its cover.
You'll never get a second chance to make a great first impression. You may have heard that people will form an impression of you, your character, your personality — an impression that is nearly indelible — all within the first 60 seconds of meeting you.  But wait – recent reports say now it could take as little time as a blink of the eye!
It may take just a 10th of a second to form an impression of a stranger from their face, but objects are categorised as soon as they are perceived. That really leaves nothing to chance.
Try this: stand on the opposite side of the street from a property and turn your back to it, then turn around to face it for a few seconds and turn away again.  Anything that caught your eye in that time should be neutralised or removed.  Perhaps there was an over-grown bush, a bright coloured balustrade, a broken window awning. If you noticed anything that did not bring you a good feeling then the property hasn’t given you a good first impression.
While it’s pretty important to like a house if you are living in it, it’s equally important for your tenants to like where they live, too.  When developing property for our clients, we want a great first impression. When it comes down to it, we are creating a dream, for our client as investors but also for their tenants so they look after the property and stay a long time.
Once you find a development site, you should move quickly to the design phase. Ensure your design blends in well with the local surroundings.  Look at direct neighbouring properties and what materials they are made of and look at the best property in the street (based on the highest sale price) and see what it is made of.  While you should be conscious of not over-capitalising, you still want to stand out in the street so your development will be noticed.
Today there is so much choice when choosing exteriors for the new dwellings that there’s really no excuse to produce a boring front façade. Street presence is what house facades are all about.  It can be a little overwhelming to start with. Do you go with metal roofing or concrete tiles? Do you choose a face brick or go for the clean rendered look?  Should you combine weatherboard cladding with other materials? Obviously your budget may dictate some choices.
When looking at exterior colours for your project consider this:
<ul>
<li>The roof represents around 30% of the total look;</li>
<li>The walls are roughly 60%; and</li>
<li>The fascias and guttering represent about 10%</li>
</ul>
 The exterior of even a low budget development can be maximised. Here are a few suggestions to discuss with your architect:
<ul>
<li>Use a combination of finishes – perhaps some rendered walls combined with face brick or other elements such as lightweight cladding or stacked stone (depending on location and budget).</li>
<li>Another finish making a big comeback is external panelling. There are products we use that look like weatherboard but are actually a lightweight fibre cement panel – its low maintenance and rot resistant.</li>
<li>Use contrasting brick work – two different face bricks.  It won’t cost any more as long as both bricks are within the builder’s range.</li>
<li>The mathematical precision of brickwork can be emphasised by using a contrasting mortar to the brick colour, i.e. for dark brick, use a white mortar. Or using a light-coloured brick with flush mortar joint finish in a matching colour will give the impression of a large single-coloured area similar to a rendered surface. I call this the “poor man’s render look”.</li>
<li>Feature columns – we’re not talking Julius Caesar-style, but contrasting brick or bagged columns to the front can add some interest.</li>
<li>Bagging is a lighter form of rendering that isn’t straight with perfect angles. It allows for the slight imperfections to be seen but can look just as good on the right property and is much cheaper.</li>
<li>Timber inserts to gables – A gable is the triangle formed by a sloping roof.  Rather than just paint it, you can use timber, aluminium panels or even Colourbond cladding.</li>
</ul>
If you really do want to make a “statement”, remember the garden planting you put along your facade is another opportunity, and probably contributes just as much to the street impact. And the good news is, when you grow tired of a garden bed, it’s much easier to change about than the front of a home.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
 
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Streetside first impressions count in property

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So how have we started 2012? In a word, quietly.
By any previous year’s measurement, 2012 has been pretty quiet out of the blocks – except for agent claims of numbers through opens.
<ol>
<li style="line-height: 17px;">Only a handful of $3 million-plus buys</li>
<li style="line-height: 17px;">Little new stock of high calibre at this price level came onto the market in February. This is particularly so in the inner east. March may turn out to be different from what we are hearing and seeing pre-market with a number of sellers keen to get a result prior to our early April Easter. But that is conjecture until we see March new stock numbers confirmed.</li>
<li style="line-height: 17px;">When the market is quiet, agent turnover drops and so do agents’ incomes; unrest builds and the merry-go-round begins. During late 2011 and early 2012 agent coffee shop meetings have been up.</li>
</ol>
So yes, the market still seems a little quiet, but it’s not that bad. It’s pretty much as expected, and this weekend went as well as a selling agent could have hoped for.
What of the claimed increase numbers at open for inspections? We actually support this premise and the implication that demand may be stronger than the results show.  Our enquiry numbers are up and the number of clients looking for homes is also up on this time last year, even if we’ve seen little change in the number of clients in actual negotiation this year compared to last. Result-wise we also started OK, with buys in Fitzroy, Glen Iris and Brighton in the $1 million, $2 million and $3 million price bracket in early February. 
On the auction scene, overall demand was not too awful. At 6.pm Saturday, the James Clearance Rate for million-dollar-plus properties in the inner east and bayside was 58% on the 31 auctions we attended. The Weekly Review Bidderman, our demand indicator, began the year at 1.5 bidders per auction.
Last weekend’s numbers were low, at just over 50 in that million-plus bracket. But next weekend will have well over 100, a solid number. And we’ll see a similar number on March 3 before we have a significant drop on March 10 due to the Labour Day weekend.
Market wrap-up
<ul>
<li>Overall the market appeared weaker on early results, i.e. under the hammer. As the day wore on though, and pass-ins were cleaned up, the indications were that the market seems to have started as well as could be expected. But it’s too soon to say it’s a clear positive trend.</li>
<li>Stock levels on offer were low in number, in quality and in dollar value. Only two auctions had results over $3 million – one sold and one didn’t. So it’s still a bit foggy to us.</li>
<li>A number of pass-ins were cleaned up post auction – meaning a lot of the action was not visible this weekend.</li>
<li>The phenomenon that became very evident late in 2011 has continued in 2012. This weekend we counted 46 bidders at 31 auctions – so there is demand out there. But there was no evenness: five auctions had 50% of the bidders averaging almost five bidders per auction and the other 26 auctions averaged just under one bidder per auction.</li>
</ul>
‘Round the grounds: Bayside – Low levels and mostly unexciting stock, so 56% is an even result. Boroondara – Actually that’s pretty impressive first up – 83% clearance. Stonnington – Solid start on low numbers  – 75% clearance Port Phillip – Whoops – somebody forgot to tell the buyers auctions had started again – 20%
Market summary – year to date 2012
Last year was a year of generally falling prices – with the exceptions of the months of May, September and December. Yes, we finished the year off OK, but it was more a case or arresting the fall rather than any lighting of price rockets.
Last year we saw drops in market values on homes that started too high on price, with owners that then had to sell. This was particularly the case with properties that were of inferior quality or in poor positions. In many cases these drops were 20% and more off the Anzac Day 2010 high. A lot of that fall in value happened in the last quarter of 2011.
On the subject of price falls: some organisations are spruiking median price increases in the last quarter of last year as real stats, which only proves that there are dope tests that can have false positives. The market did have some strong results in December but overall it was a negative second half for many sellers (in terms of lower selling prices or not selling at all).
 
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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Melbourne's top-end property market starts the year quietly

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The sale of one property and the withdrawal from the market of a second have made way for two new entrants onto SQM Research's top 10 most discounted properties list. 
The property at 102 Fountain Road, Burpengary has been withdrawn from the market unsold. It made its debut in the number-three spot on SQM's most discounted properties list <a href="https://www.propertyobserver.com.au/hotspots/horse-stud-discounted-by-42-in-five-months-on-sqm-discount-list/2011090651455" target="_blank">in September 2011</a>, when its price hopes were cut from $1.2 million to $600,000.
SQM Research director Louis Christopher noted at the time that it made its debut with a discount of over $500,000 in the space of five months.
"The vendors of this property, which was a former horse stud, featuring attributes such as an in-ground pool, ducted air-conditioning, stables and feed shed, billiard room with built-in bar and 1.5kw solar panels, are most likely struggling to find a suitable buyer for a home with such niche characteristics,” Christopher said.
The property has now been withdrawn from sale after being marketed by Coronis Real Estate agents since April 2011. Most recent listing agent Mark Pickles says the vendors were unwilling to discount the property any further and were unable to secure a buyer.
The number nine and 10 spots are now taken up by two hinterland properties, 13 Hawcroft Place in the WA town of Lancelin and 1302 Birkdale Place in Magenta, on the NSW central coast.
The Magenta property has featured on SQM's list of properties that have been on the market the longest, appearing<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nsw-central-coast-dominates-top-10-longest-property-listings/2011080251010"> at number seven on in August 2011</a>. At the time the property's price hopes had been reduced from an initial $700,000 to $500,000, a reduction of 29%. It had been on the market 1,131 days.
In November 2011 its price hopes were slashed again to $450,000, or a 36% discount. It is currently offered at $450,000, and it has been on the market more than three years. 
1
<a href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618" target="_blank">60 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a> 
On the market since: October 3, 2010
Initial asking price: $349,000
Current asking price: $185,000
Reduction: 47%
Days on market: 496
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016" target="_blank">92 Beelong Street, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 629
 
3
<a href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618" target="_blank">121 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a>
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 476
 
 
4
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 609
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106866439">329 Waterford Road, Ellen Grove, Queensland, 4078</a>
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 483
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106364068" target="_blank">22 Fenton Avenue, Christies Beach, SA, 5165</a>
On the market since: March 6,  2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 707
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,348
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 777
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107358501">13 Hawcroft Place, Lancelin, WA, 6044</a> (pictured)
On the market since: April 30, 2011
Initial asking price: $1.49 million
Current asking price: $949,000
Reduction: 36%
Days on market: 287
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,334
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia</a> for sale.
 
 
 
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A sale and a withdrawal make room for two new properties on SQM's most discounted list

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Many Australian consumers complain about the high cost of living. But more than likely you would hear the same complaint if you went back 30 years ago or even 50 years ago. Fortunately through the power of technology we can test – at least partially – whether times are indeed tougher now than in the past.
Search firm Google has made available scanned copies of old newspapers, enabling researchers to gain insights into the cost of goods over time. Despite the fact that Google disbanded the project in May last year, it has created an impressive database. For Australia the most comprehensive resource is the Sydney Morning Herald, with 38,755 copies digitised from 1830 to 1989.
CommSec has utilised the Google newspaper archive and the Reserve Bank inflation calculator to get a perspective on the cost of living 30, 40 and 50 years ago. And it is clear that Australians in 2012 are better off than their parents and grandparents with a raft of items far more affordable today, whether you measure the cost in 2012 dollars or compare the prices of goods with the value of wages.
What does it all mean?
Aussie consumers may complain about the cost of living, but it is clear that the quality and affordability of many goods is far better now than 30, 40 or 50 years ago. For instance, 50 years ago, in February 1962, a “standard” Holden cost £1,107 or $2,214. At that time the average weekly male wage (non-managerial) was $49.40. So it would have taken a worker almost 45 weeks of wages to buy the vehicle. Today it would take the average worker about 28 weeks of wages to buy a new Holden Commodore Omega auto. And clearly the quality and range of accessories in today’s vehicles is far superior to that of 50 years ago.
Certainly it’s not just cars, but kitchen appliances, alcohol, travel and bedroom furniture are among the items that are far more affordable in 2012 than in the past. For instance, in 1982 a “Celestial” two-itre kettle was advertised for $29.99 – the equivalent of $92.75 in 2012 dollars. Currently a “Homemaker” 1.7 litre kettle can be purchased for $25 at Kmart.
While many items have become more affordable over time, the same can’t be said for housing. In 1962, land in Penrith in the western suburbs of Sydney (“Sydney’s newest suburb”) could be purchased for £595. In today’s dollars that would equate to just over $15,000.
But in 2012 the cheapest land that could be found near Penrith would cost just over $200,000. Of course, land in 1962 can’t be readily translated to 2012 as amenities and transport times have changed. But if purchasing power was kept constant with 1962, a home buyer today would need to find a block of land around $32,000 – only obtainable in country areas like Henty, Braidwood or Kempsey.
The bottom line is that people generally have a poor appraisal of either the cost of living or standard of living. It is difficult for the average consumer to assess not just the relative cost of items, but more importantly affordability (that is, relating prices to wages) as well as the relative standard or quality of goods over time.
Fortunately technology now allows these comparisons to be made quickly and accurately.
The government, Reserve Bank, retailers and other businesses are among those that benefit from providing perspectives of affordability or purchasing power over time. Economists are generally good in tracking price changes over time but are poor at keeping actual prices to permit comparisons of affordability. In fact the Bureau of Statistics recently stopped publishing data showing the average prices of grocery items 30 years ago.
Thirty years ago (Sun Herald February 14, 1982)
The headline news of the day was speculation of a health fund  takeover – “The NSW government is poised to take control of the state’s second biggest health fund – HCF – in a move to provide cheaper health care.”
In sport, New Zealand beat Australia in a one-day international despite a century by Greg Chappell. At the cinema, For Your Eyes Only and On Golden Pond were playing. The top-selling album was Business as usual by Men At Work. And Young Talent Time was on television at the time – strangely enough as it is today.
The goods that dominated advertisements in the newspapers were cars, bedroom furniture, household appliances, liquor and women’s shoes. All the major department stores at the time heavily advertised – Grace Bros, Waltons, David Jones and Myer. At the time, the average weekly wage for full-time employees was $276.90 (male wage $347.20). Inflation was running at an 11% annual pace; the Aussie dollar was around US107 cents; and the cash rate was 15.2%.
In terms of liquor, Teachers Scotch Whisky was advertised at $11.99 and a case of Tooth KB or Reschs DA cans of beer cost $11.99. Using the average male wage for comparison in 1982 you could buy 29 bottles of whisky and 29 cases of beer. Today you can purchase 35 bottles of whisky and 41 cases of Carlton Cold on the current male wage.
A bottle of Richmond Grove chardonnay was advertised at the time at $4.29. In 2012 dollars that would equate to $13.27. Currently at Dan Murphy’s, Richmond Grove French Cask chardonnay is priced at $11.99 a bottle.
In terms of household goods, a two-litre Celestial Kettle was advertised at Waltons for $29.99. In today’s dollars that would equate to $92.75. Interestingly at the current time Kmart is advertising a 1.7 litre kettle for $25.
A Thorn 53cm TV was advertised at that time for $699; today that would equate to $2,161.81. A Sony Betamax VCR similarly cost $799 back in 1982.
A Westinghouse 370-litre fridge was advertised at Waltons for $699 (today’s dollars $2,161.81). Today Harvey Norman is selling a 390 litre fridge for $1,109.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/dural.jpg"><img src="/images/stories/duralthumb.jpg"></a>
In terms of travel, a 10-day/eight-night trip to the Bali Kuta Beach Club was advertised at $518-$698. In today’s dollars that would equate to $1,602-$2,158. By comparison a seven-night Bali holiday (Ramada resort) was recently advertised at $1,099.
Interestingly though, there was also an advertisement for Hotel Craigieburn Bowral offering five days’ accommodation with all meals for $156. In 2012 dollars that would equate to $482.46. The hotel is now known as Peppers Craigieburn Bowral and the cheapest five-day package without meals now costs $821.
The higher cost of the holiday accommodation appears a function of generally higher property prices. In fact a home on five acres (two hectares) was advertised at Dural for $298,000. In 2012 dollars that would equate to $921,630.85. The same home sold last year for $2.075 million.
Forty years ago (Sun Herald February 13 1972)
At that time one of the major stories was the flood threat posed by Cyclone Daisy: “Much of the NSW North Coast was awash last night as Cyclone Daisy battered its way south.” The other main story was headlined “500,000 to lose jobs over strike” – the report stating that 500,000 workers in Victoria and other states could be stood down if a power strike does not end.
In sport, Shane Gould added two wins to her gold medal tally at the Australian swimming championships. On the 2SM top 40, Imagine by John Lennon was at number 11. At the cinema, Diamonds Are Forever was showing. And World Championship Wrestling and Adam 12 were some of the programs on TV at the time.
Clothing dominated advertisements at that time including furs and men’s suits but furniture, mattresses and household appliances were also featured. All the major stores at the time heavily advertised – McDowells, Farmers, Norman Ross, Nock &amp; Kirby’s, Horderns, Waltons, David Jones and Mark Foy’s.
At the time the average weekly wage for all employees was $73.80 (male wage $96.20). Inflation was running at a 7.3% annual pace; the Aussie dollar was around US119 cents; and the cash rate was 4.9%.
Grace Bros heavily promoted a “$500,000 fur sale” at the time and Cornelius was also heavily promoting furs. Today a retailer wouldn’t openly promote such a sale. Grace Bros also had an advertisement featuring typewriters and the retailer also promoted “values in pullovers and cardigans from $3”. In today’s dollars that would equate to $27.11, so the bargains certainly appear reasonable from a 2012 perspective.
David Jones advertised men’s suits for $54 (‘young style’) and $70 (‘top name men’s suits’). In today’s dollars the suits would equate to $487.91 and $632.48 respectively . Currently suits can be purchased in major department stores for around $299 to $399.
Grace Bros also promoted a 24-inch (61 cm) “theatre type” Thorn TV for $229 (note black-and-white TVs existed at that time). In today’s dollars that TV would equate to $2,069.12.
The newspaper gave indicative prices for some vegetables such as lettuce, tomatoes and potatoes. A lettuce was priced at 10¢, equating to 90¢ in 2012 money. Currently Woolworths is selling lettuces for $1.98. But tomatoes were priced at 15¢ to 20¢ a pound. In today’s dollars that would equate to $1.36 to $1.81 a pound, but Woolworths is quoting $1.95 a kilogram or 89¢ a pound. And potatoes were also judged to be cheaper in 1972 than today at 36¢ to 54¢ a pound versus 90¢ today.
In 1972 an advertisement stated “Jet your way to the UK and Europe for $645 return”. That would equate to $5,827.86 in today’s dollars, showing that overseas travel at the time was very much a luxury.
At that time a three-pint (1.7-litre) kettle cost $18.95 and a toaster cost $15.95. In today’s dollars that would equate to $171.22 and $144.12. In comparison, recently Kmart advertised a 1.7-litre kettle for $25 and a two-slice toaster was advertised at $29.
 
<hr class="system-pagebreak">
 
Fifty years ago (Sun Herald February 11, 1962)
The headline story was “Aust. Ships threatened” with the report alleging that “Indonesian war planes are shadowing and menacing Australian oil tankers on the vital supply route from Sumatra to Botany Bay.”
In sport, 10,500 people turned out to watch a NSW vs. South Australia Sheffield Shield cricket match featuring Bob Simpson, Brian Booth, Neil Harvey, Alan Davidson, Garfield Sobers and Richie Benaud. There was also a review of a new film, Breakfast at Tiffany’s.
The “non-managerial adult male” weekly wage was equivalent to $49.40 a week (pounds, shillings and pence at the time); inflation was just 0.7%; and the cash rate was just 3.43%.
Household goods such as mowers, furniture, fridges and washing machines featured in advertisements together with clothing and cars. David Jones, McDowells, Farmers, Grace Bros, Mark Foy’s, Bebarfalds and Waltons were the major retailers at the time.
Bebarfalds offered a £100 trade-in on a 10 cubic feet Pope Automatic fridge, stating the list price of the fridge at £208 Using the Reserve Bank inflation calculator that would equate to $5,288.95 in today’s dollars.
It is notable that the major retailers were promoting the value of trade-ins at the time, noting that you could save almost half the purchase price of a new refrigerator by trading in an old fridge up to five years old.
Mark Foy’s listed coats, frocks and slacks sets for a £6 ($151.87 in today’s dollars) with suits, coats and frocks at £8 ($202.50) and swimsuits, blouses and pullovers at 30 shillings ($37.97). While some of these prices seem reasonable, it’s important to relate the prices to the average wage. A good coat or women’s suit would cost around a third of the weekly wage (male) or around $467 in 2012 terms.
Mark Foy’s also listed a men’s suit at 19 guineas (a guinea was 1 pound, 1 shilling), equating to around $505 in 2012 dollars. Meanwhile Anthony Horderns listed “English tailored suits” at a £26/19/6, equating to around $683 in 2012 dollars. In 2012, equivalent suits may cost $299 to $399.
A Hoovermatic washing machine was listed at 123 guineas or $3,269.05 in 2012 dollars. Today a washing machine could be purchased for as low as $548, and as much as $1,048 for a featured-packed model.
In terms of cars, a standard Holden was listed at £1,107 (today’s dollars, $28,020.45), a standard Ford Falcon was £1,137 ($28,779.81) and a Triumph Herald 1200 (with a “new big engine”) was listed at £812 ($20,553.39)
Notably there was also an advertisement for land in Penrith – “Sydney’s newest suburb”. The land was advertised for £595 with £10 “full deposit on every block”. In 2012 dollars the land would be the equivalent of $15,060.67.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/penrith.jpg"><img src="/images/stories/penriththumb.jpg"></a>
In the same advertisement the price of land in Caringbah was stated at £1900 (2012 dollars, $48,092.91) and Collaroy land was stated as £1950 (2012 dollars, $49,358.51). Today, it would be rare to find land in either suburb. But in Cronulla (near to Caringbah) land can be purchased for around $800,000.
Whichever way you cut it, home buyers in 1962 had a significant advantage over home buyers in 2012.
Implications
While consumers may complain about living costs, in many ways today’s shoppers have a significant advantage over their parents or grandparents. Clothing, cars, household appliances, liquor and overseas travel are more affordable today than 30, 40 or even 50 years ago. So the slow rate of retail spending appears more a factor of consumer reluctance to spend rather inability to spend.
However one factor potentially constraining household spending is the cost of property.
From the examples we have gleaned over the past 50 years, land and houses are generally less affordable today. However it is always difficult to factor in improvements in infrastructure, the standard of homes and increases in the number and range of amenities. Clearly a home or home site in Penrith in 2012 is a far cry from that back in 1962.
Still, cars are more affordable in 2012 than in the past despite the fact that features, standard of vehicles and accessory levels today are far superior. Cheaper production costs and efficiencies can partly explain the greater bang for your buck being achieved by car buyers while lower tariff levels have also served to reduce car prices over time.
Craig James is chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec.</a>
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Housing has become less affordable in past 50 years as everything else becomes cheaper

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We've come a long way since Kevin 07, WorkChoices and the description of climate change as the "greatest moral challenge of our time". On the flipside, with Rudd circulating for the leadership, the Fair Work Act damned daily in the press and a carbon tax on its way, maybe we're heading back to where we started – but a lot more battered and bruised.
As SmartCompany celebrates its fifth birthday, we're looking forward and backwards in a special two-part feature.
In part one, we take a <a href="https://www.smartcompany.com.au/economy/048298-the-five-trends-that-shaped-smartcompany-s-first-five-years?utm_source=SmartCompany&amp;utm_campaign=381bc631a2-Tuesday_21_February_201202_21_2012&amp;utm_medium=email">look</a> at the key trends that have shaped the last five years.
In this second part of the special, we've spoken to some of the country's great thinkers to find out what's in store for Australian businesses over the next five years.
What are the themes entrepreneurs need to be aware of? And how should SMEs prepare?
<h3>Volatility rolls on</h3>
If the average deleveraging cycle lasts about a decade, we still have a long way to go before the global financial crisis recedes – and either a bust-up of the euro or a nasty recession from strict austerity measures don't bode well for Europe, and its business partners across the world.
Shane Oliver, head of investment strategy and chief executive at AMP Capital Investors, says private-sector deleveraging among advanced companies will curb economic growth in the years to come – and the past few years' volatility will continue as central banks in Europe and the US continue with their "extreme" monetary policies; that is, holding interest rates around zero.
Lest companies think they can bow out of macro-economic concerns, Professor Kosmas Smrnios, lecturer in entrepreneurship at RMIT, says SMEs can ill-afford to put their heads in the sand by avoiding global competition.
"Organisations will need to look at the big picture," he says. "A parochial stance will be a thing of the past unless someone can deliver a niche product to suit a particular market."
<h3>Technology and structural change</h3>
RMIT's Smrnios says with technology developing in leaps and bounds, the focus is on how organisations can better use technologies to manage global competition and changes in supply. And as the shelf life for products and services shrink, Smrnios says technology will help companies stand out from a pack, be creative and innovative.
The Service 2020: Megatrends for the decade ahead report, conducted by the Economist Intelligence Unit and released last month, says firms will need to use the increased transparency brought by social media to their advantage.
"The clear trend to come out of this [social media] is that organisations understand it's here to stay and they need to harness it," says BDO Australia national chairman Tony Schifmann.
But although few would argue that companies can afford to ignore the enormous audiences of Twitter and Facebook, it'll be imperative for businesses to work out on their return on investment. Social media can go awry or soak up too much time; expect smarter methods to emerge as businesses get smarter with their social media practices.
The effect of technology will be most profoundly felt by the retail sector, says IBISWorld founder Phil Ruthven, likening its impact to the introduction of self-services decades ago. Just as self-service caused the demise of many retailers from the 1960s onwards, he argues, online is doing it all over again.
<h3>A new consumer</h3>
Demographer Bernard Salt says changing business models should be front of mind for all business-leaders.
"It's almost like in the Australian business community, the consumer market was travelling along and then ran into the GFC, and now everyone is battening down the hatches waiting for it to pass. But my view is we'll come out of the storm pointing in another direction," Salt says.
"Big picture structural shifts are afoot and business needs to be anything but complacent about strategic thinking."
"If you've invested in a business predicated on a model based on the 1970s through to 2010, and the model has genuinely shifted, then no amount of smart business practices will fix it."
So who's in line? Salt says by 2020, between 15-20% of retail sales could be competing online, having a profound impact on retailers and the traditional consumer model.
Similar change will sweep through the tourism industry, which has traditionally been predicated on mum, dad and the kids going on holiday in Queensland rather than jumping on a Jetstar flight to Bali.
And then there's manufacturing: Salt says although Germany has managed to retain its manufacturing sector, this is largely because its manufacturing is value-added, sophisticated and generally can't be replicated in China – yet. These are some weighty questions for out-of-favour sectors.
<h3>Sustainability</h3>
Smrnios says sustainability will be another key theme in business for the next five years.
With the carbon tax and associated compensation taking force later this year, and the commitment of Labor and the Greens to prepare for the "green economy", SMEs are urged to familiarise themselves with the financial incentives and government programs for greening up.
<h3>People power</h3>
An ageing population and ongoing skills shortages mean staffing will remain a key issue for entrepreneurs in the years ahead. Smrnios says the focus will be on finding and retaining people who:
<ul>
<li>have the appropriate skills;</li>
<li>fit in with the culture,</li>
<li>can work in teams;</li>
<li>solve problems; and</li>
<li>be up-to-date with technology.</li>
</ul>
Beyond the issue of Australia's ageing population – how will it be funded, how much longer people will have to work, how will the government and companies deal with foreign labour – industrial relations will likely loom as a hot-button issue for the country.
Phil Ruthven of IBISWorld says there is "some suggestion that the industrial relations legislation [Fair Work] may be a bit of time bomb for the future," particularly among mining and construction companies.
Time will tell what the Fair Work review throws up, and how the Coalition would change things if it won the next election. No doubt we'll get yet another system that will claim to get the balance right.
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
 
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